Chad is nationalizing all assets from multinational oil giant Exxon Mobil, including its permits. Chad began producing oil in 2003 and Exxon has been operating in the country for decades. Tensions have risen in recent months with protests against the government of President Mahamat Idriss Deby.

submitted by Orangutan from apnews.com

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[–]Canbot 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Like all black countries they are delusional about their ability to maintain those facilities and collect profit. While I agree that in theory a nationalized oil industry could be good for the country, any country capable of succeeding in that endeavour would have built that industry on their own from the beginning instead of requiring exxon to build and fund everything, and establish that entire economy.

Chad does not have the critical mass of competent, honest, and hard working people to run that operation.